Latest / SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT / ❗WARNING❗SILVER Investors PREPARE for THIS Epic PRICE Battle!... (Gold Price Too)

Transcript

❗WARNING❗SILVER Investors PREPARE for THIS Epic PRICE Battle!... (Gold Price Too) · SILVER / GOLD / $UFD: Surviving Global Economic Shifts | RONS BASEMENT

0:03
Hey guys, welcome to the basement, welcome to the live
0:05
stream. We are preparing for an epic
0:09
battle, silver investors in particular, but also gold.
0:14
We're going to talk about that in this video.
0:16
An epic battle that for silver could bring it to new all time
0:21
highs. And I can't believe that I'm
0:23
saying this to you right now. I cannot believe it.
0:27
I thought at best we would be looking one or two months out
0:30
into the future, but it could be happening, guys, and it could be
0:33
happening right now. We're going to explore that in
0:37
this video. Thank you for being here.
0:39
By the way. Do you feel like doing something
0:40
nice? Doesn't it feel good to do nice
0:43
things? Well, it sure would be nice of
0:46
you, my fellow basement dwellers, if you gave this a
0:49
thumbs up. Please subscribe to the channel,
0:51
but most importantly, I want to say thank you.
0:54
For being here, right it's really not Ron's basement, it's
0:57
your basement. We come together, I hope you
1:00
found a little home away from home where we can get together,
1:04
hang out. Hey, it's 5:00 on a Friday and
1:07
talk about silver and gold because you really are the most
1:11
important part of Ron's basement.
1:13
Let's go out and just take a quick.
1:15
Look at what happened. Did did anybody check at what
1:18
happened today? In the silver and gold market,
1:21
we'll go to our friends at Yahoo Finance.
1:25
Look at gold. They just couldn't let it
1:28
happen, could they $2399.80 make sure I got you turned on, which
1:37
I do look at silver $31.52 Now what are we talking about in.
1:43
Regards to this big battle. Guys, this is a big deal and
1:48
something that we could be looking at in the next week or
1:51
two with silver. And again, it very likely, you
1:56
know, a good likely outcome of this battle if, if the Silver
2:01
Warriors are successful, right? All these people out there, all
2:06
the people in the United States, the growing number of us that
2:11
are buying silver, we know we've got plenty of help.
2:14
From our friends in China, in India, right?
2:17
I mean, they love their silver. They're sucking.
2:19
Wait till you see tomorrow. It it gets, it just never stops,
2:24
never ceases to amaze me what is going on with silver in China
2:28
and India. But we're not talking about
2:30
that. We're going to be talking about
2:31
what's going on in the Western markets.
2:35
Bitcoin, by the way. Just and look I'm not an anti
2:38
Bitcoin person. I'm not into crypto or Bitcoin,
2:42
but Bitcoin has been having a little bit of a trouble lately,
2:45
down to only $56,000 per Bitcoin.
2:49
But let's get back at it. I need to ask you a question.
2:52
Are you prepared silver investors basement to others for
2:56
what is going to be an epic, epic battle?
2:59
I'm going to share it with you right now.
3:01
And again, this could result in unbelievable price moves for
3:06
silver. So let's go out to the chart.
3:09
I want to show you a couple things with silver and then
3:12
we're going to talk about the epic battle.
3:17
Here we are on trading view. This is the silver chart.
3:22
This is a three month silver chart.
3:25
OK, Now let's go back first and look at a five year chart and
3:28
recognize something that has happened with silver.
3:31
OK, This is a 5 year chart. This is about 04 years ago.
3:36
This took four years to occur. This is the price of silver over
3:40
the last four year period. Guys, we went through a period
3:43
with Michael Oliver. I love that guy.
3:45
He called it like he said, throw out the data.
3:48
From the last. Three or four years 'cause it
3:49
was so uncharacteristic of silver, but none the less, look
3:55
at how the price was just trading in this very narrow
4:00
range. I mean, if you take out this
4:03
couple, these couple little sections right here, we really
4:06
traded within like a three or four or $5 range.
4:09
Most of that period it was AI. I'll call it a.
4:13
A wedge pattern that we broke out of here when back in April.
4:18
And look at where we've gone now.
4:20
That's not the battle. Let's talk about the battle
4:23
right now without further ado. OK, let's go over here to a try
4:28
to find a chart that'll really show it.
4:30
I think, well, maybe even a three month chart.
4:33
We'll show it. Yeah, we'll show it even better
4:36
in the. World of of.
4:38
Of of nature in the world of technical analysis.
4:42
OK, it's a well known fact that when something hits a top and
4:47
comes back and goes. Back and hits a top again.
4:51
That's called a double top. Then a third top, a triple top
4:55
is like almost never heard of. Now, I do want to put in.
4:59
That is as far as I understand, we did have a triple top in the
5:03
gold price before gold finally broke out.
5:05
And we know what gold's doing now.
5:07
But look at this with silver. See if I can draw a line on here
5:13
for you. Yeah, here we go.
5:15
I draw a little line for you guys because this is super
5:20
important. OK, there we go.
5:23
There's a line right around what $32.25 in silver.
5:28
As you can see, we got up to that level when back in late May
5:33
of 2024, we got there again. No, wait a minute, that's is
5:36
that the same day? One May 24th.
5:41
We we bumped up against this 3213.
5:46
OK, hold on a minute here. Something's not working.
5:51
Monday the 20th of May OK, here we go.
5:56
Yes, couple times we tried to break above 3250 per oz.
6:01
OK, If we get there and this will be, this is the battle
6:05
right here, right? If we get there and then we get
6:08
to this level again and we breakthrough, we're really,
6:12
really close. I cannot believe that I'm
6:15
actually that we're talking about this already because it's
6:18
all happening in my opinion, very prematurely.
6:22
But we got to look at the big picture, what is going on right
6:26
now in the world, OK, geopolitically.
6:29
And when you couple with that what is going on in the United
6:34
States from a monetary perspective and a fiscal
6:39
perspective, right, what our government is doing, we are in a
6:43
a situation that we've never been in before.
6:46
The result of that. Is quite simply this, that
6:51
events are occurring #1 on a much more extreme level and #2
6:57
much more frequently. So maybe we were wrong, right?
7:01
We talked about I was, I was. My expectation for this was that
7:06
we would face this battle sometime four and a half, five
7:09
and a half, 6 1/2 weeks from now.
7:11
That was my prediction. In hindsight, I may be very
7:15
wrong depending on how things play out next week.
7:18
Right, we could be facing this battle to break above 3250 per
7:23
oz. And guys, that is new all time
7:27
high territory for silver. We'll touch on that in a second.
7:31
But what what we have to recognize right now, what is
7:34
going on, right, is that suddenly everyone has realized
7:39
that the US economy is slowing. You know, I was at the
7:41
neighborhood 4th of July party yesterday and I have some
7:45
wealthy neighbors, OK, and one of them owns a, a, an
7:48
advertising marketing firm that does advertising marketing
7:53
campaigns for big name brand companies, companies whose names
7:57
I, I guarantee you you would recognize.
8:00
I asked him, you know, I said, hey, how how do you see things
8:04
playing out right now in the economy?
8:06
I actually hadn't talked to him for like 6 months.
8:08
Great guy, great friend, just hadn't seen him and bumped into
8:11
him anything else. Last time I talked to him,
8:14
things were going gangbusters. He said, Oh my gosh, it's like
8:18
night and day. Things are slowing down and the
8:22
products that he's running these marketing campaigns for are
8:26
discretionary. I would say discretionary type
8:28
items, meaning it's not bread, it's not gas, it's items that if
8:34
you're at the store and you see it and you've got a little extra
8:37
money, it's something that's, you know, not like a luxury
8:40
item, but something that you might say, yeah, you know what,
8:42
I'm going to try that. I'm going to buy that.
8:43
I want to get that. He said things are slowing down.
8:47
The other thing we need to think about right now and and this is
8:52
all playing into the silver and gold price and this epic battle
8:55
that we're going to be facing is, is that is that the
9:00
employment numbers. OK, everybody's now all of a
9:03
sudden everybody's today was a, was a, a, a, a shift in the tide
9:09
of the employment situation when we got the jobs number.
9:12
Now everybody's like, oh, the jobs.
9:14
Can you feel it? Now everybody's talking about
9:17
how the jobs how, how the employment picture in this
9:20
country is slowing down, right? And that again, that is super
9:25
bullish in this make believe synthetic world that we're
9:29
temporarily dealing with that is super bullish for the silver
9:33
price and the gold price. I'm going to talk more about
9:35
this on tomorrow's live stream. But now everybody's saying the
9:38
Fed's got to cut rates twice this year, right?
9:42
And again, that is super bullish, super supportive for
9:46
the silver price and the gold price.
9:47
So as we face this epic battle in silver and now.
9:52
I want to talk about. And then I got, I forgot to tell
9:55
you guys. A little bit later, I'm going to
9:57
introduce you to a new website that is crazy interesting and
10:03
has everything to do with gold and silver.
10:05
But in the, in the interim, as we're facing this battle that
10:10
we're heading into, you know, we're doing it with the backdrop
10:14
of of a. Slowing economy.
10:16
Suddenly everybody's wrecking everything, I told I.
10:20
Said that these last five months, we're going to be
10:22
interesting. I'm not bragging either.
10:24
I'm not bragging 'cause I'm often wrong, but on Monday and
10:27
Tuesday this week, I sat here in the basement with you and you
10:31
know, it's the biggest pleasure in the world to get to join you
10:34
down here in the basement. But we talked about how today,
10:38
Friday, July 5th, would be the biggest day of the.
10:41
Year for the silver, for the biggest Newsday right of the
10:45
second-half. Well, I got news for you.
10:47
There's a new biggest Newsday that'll be Thursday of next
10:49
week. We'll talk about that in a
10:51
second, but we were right. We, I, we sat down here and
10:55
talked about it, basement dwellers, about the fact that
10:57
silver could go up by a buck today.
10:59
My prediction for next week is flat.
11:02
OK, Don't get mad at me. I hope I'm wrong.
11:05
But I do think in the next week or two.
11:08
So it could be right. It could be later this week.
11:11
I'd be surprised if it is, but I've been surprised lately that
11:15
we're going to face that battle. But I'm thinking we're going to
11:17
be flattish. Next week, OK, Don't make any
11:20
financial decisions based on anything that I'm saying, but
11:23
Thursday of next week, guess what we're gonna get?
11:26
It'll be the biggest news event now, even bigger than what we
11:31
had today for the rest of the. Inflation numbers.
11:34
And I want you to think about something.
11:36
OK, use your use your 3D chess abilities.
11:40
You don't play checkers. Well, you do.
11:42
You're probably really good at checkers.
11:44
You don't just play chess, you play 3.
11:46
D Chess. So think about next week.
11:48
The inflation #1 the economy is crashing.
11:54
All right, well, slowing down significantly.
11:56
OK. The housing market's frozen.
11:58
I mean, are you going to listen to her?
12:01
Let's get her out. What do you say?
12:02
So it's Friday night. Hey, it's Friday.
12:05
Who doesn't want to do a little party with her?
12:07
Don't listen to her Aunt Janet. Everything's great out there,
12:14
everybody. What are you complaining about?
12:16
The economy's strong. Just go get yourself another
12:19
third or fourth job. Yeah.
12:23
Put her away. Economy's slowing down.
12:27
You know, the, the, the, the, the, I talk to people that are
12:30
in the home improvement business and everywhere you look, the
12:33
economy is slowing down. So next week, use your 3D chess
12:37
abilities. This is the kind of stuff we
12:40
enjoy, right? Because you're smarter than the
12:42
average bear, right? That bear's smart.
12:45
He likes First Mining gold channel sponsor and you know he
12:48
also likes Fortuna Mining, but none the less channel sponsor.
12:51
You can check out both those companies at their respective
12:53
websites. Their stocks that I own.
12:56
I eat what I cook. Oh no, yeah, I cook my own
12:59
eating. You know what I'm talking about.
13:01
If I'm going to take a sponsorship for any of these
13:03
companies, it's going to be something that I'm invested in.
13:07
But don't you do anything based on what I'm doing, right?
13:10
I'm not a financial advisor, but I'm honest with you about those
13:14
companies that I own, right. I also happen to love Pinbex.
13:19
I loved them before they were sponsor my channel so it made it
13:21
even like a double love fest when they did sponsor my channel
13:25
'cause I know it. Pinbex when I buy my silver.
13:27
I get the best prices, press selection, best service, any
13:32
everything I need. OK, so if you're in the market
13:34
for some silver, gold, or platinum, do yourself a favor
13:37
and check out Pinbex 3D Chess. Look guys, jobs down,
13:44
unemployment rate up. Very good for the silver price
13:47
and the gold price. Now, next week we're going to
13:50
get the inflation numbers. Think about this economy going
13:55
down. Everything's bad, bad, right?
13:58
Nobody has money, No, except the dollar store.
14:01
They're probably dollar 25 store, but whatever you want to
14:04
call it, they're doing pretty good.
14:05
But think about this, basement dwellers.
14:07
Next week. Next week.
14:10
They're going to want to print low inflation numbers.
14:12
Then they can say it's bitonomics.
14:14
It's working, right? If he, I don't know that, who
14:17
knows if he's going to be our presidential candidate?
14:21
Well, that's not a political show.
14:23
But anyway, that's what's going on in the world right now.
14:25
We don't. We don't know if our current
14:28
president and we don't know if he knows.
14:30
I don't even know. Nobody knows what's going on.
14:33
But that's the world that we get to live in.
14:35
Isn't that wonderful? That's the leader of our
14:39
country. My gosh, I feel so confident.
14:43
Hey, guess what? I'm getting off track.
14:45
Let me get back to this next week.
14:47
Here's the deal. Here's the deal.
14:50
They're going to print this maybe?
14:52
It will happen next week. They're going to, they're going
14:55
to say inflation's low. That'll be good for modernomics,
14:59
right? Modernomics.
15:00
It's working disasternomics. Right.
15:04
As long as you're part of the 1% it's working you're doing great.
15:07
OK, but when when they make that low inflation print that will
15:12
this is the way it all comes together.
15:14
The big puzzle piece that will be considered to be bullish for
15:20
the price of silver and gold. Why?
15:22
Because if inflation's if the. Feds win in the fight on
15:25
inflation with the help of Bidenomics, then the Fed can cut
15:31
rates. Yahoo, right?
15:34
Yeah. I mean, it's a big clown show,
15:37
but we gotta go to it. That's all I can say, right?
15:40
It's a big clown show. It's a big cluster bomb.
15:44
I wish I could cuss on my channel, but I made a commitment
15:46
not to cuss. It's a big poop.
15:49
Show. I mean, it's a big.
15:51
Joke. It's all synthetic.
15:53
It's all make believe. It's not real, OK?
15:57
It's not real. And what I keep, I keep making a
16:00
mistake. I'm sorry.
16:01
I apologize, guys. I keep forgetting, right, that
16:05
because it's such AI mean it is bad, baby that things are are
16:10
falling apart at a faster pace. Lynette Zang said it.
16:13
I don't know. It's been probably been nine
16:14
weeks now. I need to have her back on
16:16
again. But the first time I had her on
16:18
the show, I said, Lynette, why do things feel so crazy?
16:22
You know what she said? She said, Ronnie, don't worry
16:25
little Ronnie. It feels crazy because it is
16:28
crazy. It always feels crazy right
16:30
before it ends. None of it makes sense.
16:32
It's all synthetic, right? All the the money printing and
16:37
blah, blah. We talked about this earlier
16:38
today. The stock market, I'm telling
16:41
you, OK, I worked for a BIG4 accounting firm rather briefly
16:45
and I left on my own accord. I can say that, but I understand
16:48
finance and accounting in the markets.
16:51
The stock market is the biggest bubble Ponzi scheme in the
16:54
history of the planet. OK, and then you got crypto
16:59
world, but I won't go there. OK, I'm not gonna go there.
17:02
I love the crypto people. They share a lot of the same
17:05
beliefs we do, but then on top of it with the stock market, not
17:09
only is it a bubble Ponzi, but on top of it, it's all it's all
17:13
measured in dollars, which is another bubble Ponzi.
17:17
It's crazy. This is the.
17:20
This. Huh.
17:24
This right is silver. This is the antithesis.
17:29
Is that the right word? I don't know.
17:30
Opposite. That's your silver of the day.
17:35
Isn't that pretty? OK, it's the.
17:38
Opposite of it all. It's real.
17:39
It's real money, right? And I mean, I mean, when you
17:42
talk, I told you I walked around my neighborhood with this young,
17:45
nice young man. Smart Educate has a PhD OK, All
17:50
right. I walked around in the
17:51
neighborhood parade with him yesterday.
17:53
He's in the financial planning business now.
17:55
I mean, he you know, he said to me, he said, well, gold just
17:58
hasn't had good returns. A silver Surfer.
18:02
All right, buddy, thank you for the Super chat.
18:05
I'm going to read that out in a second.
18:07
Silver Surfer. Thank you.
18:08
But he's like, oh, gold. I'm like, dude, you need to look
18:11
at your charts. Gold and silver have done really
18:13
well. I got something I'm I'm going to
18:15
share. I got to remember.
18:17
Hope I don't so much to remember.
18:19
And I appreciate you guys helping me and sticking with me
18:22
We. Are right, we are the we are in
18:24
a epic battle for silver, but silver was like the best
18:27
performing asset of everything. It was either the last quarter
18:32
or the first six months of the year.
18:34
It came out of I think from Deutsche Bank.
18:36
I'm gonna have that for you tomorrow.
18:38
I mean, it's just absolutely crazy.
18:41
Things are happening faster. The economy's funding all this
18:44
happens. Oh.
18:48
And it's all happening, OK, even icing on top of the cake, right?
18:54
It's this is all happening at a situation when geopolitically
19:00
and fiscally and monetarily, we've never been in a worse spot
19:03
in this country. Never, right?
19:05
Never. And things aren't, there's a big
19:07
difference. I keep, I don't want to keep
19:09
beating the dead horse, right? But there's a massive difference
19:13
between where we are now in this.
19:17
Poop show situation that our politicians and leaders have
19:21
gotten us into. Way different now than where we
19:24
were in the 1940s, where everybody says, wow, we are in
19:27
the same position in the 1940s. Yeah, we had also just conquered
19:31
the world, fortunately had won the World War.
19:34
We're the leading manufacturing only country in the world that
19:37
had any manufacturing capacity. Go figure, right?
19:42
It was different then. It was it was different then.
19:45
Things are different now. Yeah, things are different now.
19:48
Eisenhower, Albert Eisenhower, Right.
19:51
Wouldn't you say guys? Things are different now.
19:53
I mean, it's absolutely crazy. So we're in this epic battle
19:57
with Silver. Thank you, Matt.
19:58
Hey, let's go take a look. Hold on here.
20:01
Stacking Surfer had a good comment.
20:02
Let's see what he had to say. Hello, Stacked.
20:05
Silver Surfer. I'm sorry, Silver Surfer.
20:08
My apologies. My math says any country that
20:11
does not have 2 ounces of silver per capita after 2026 cannot
20:19
aspire to be or remain a first world nation.
20:23
Very interesting. Yeah, very interesting.
20:26
Thank you. Thank you for the Super chat,
20:27
Silver Surfer, and your support. You're around here a lot.
20:31
I'm going to come back to your comment in a second here, but
20:33
Matt Peterson says silver and gold to the moon in the next six
20:37
months. And he did not put a question
20:39
mark after that, my friends, He put an exclamation point.
20:42
I'm going to point that out to you.
20:44
And Alistair, thank you for your super chat.
20:48
Thank you. Thank you, guys.
20:49
Hey, now, look, I want to talk about this.
20:51
What Silver Surfer just said. Hold on here.
20:57
Hopefully, you guys are still with me.
20:59
Yep, you are. OK.
21:01
Thank you, Alistair. And that is this.
21:04
This is crazy talk. Maybe you guys didn't catch this
21:08
last week. But you know what?
21:13
Let's go out. Let's go to our favorite place
21:15
on the planet. It's Friday night.
21:16
What else do we want to do? Us, us basement dwellers, I know
21:19
what you want to do. You're just you were just hoping
21:22
and praying that we would go out to let's go take a look at let's
21:27
let's look at this real quickly. There's Pimbex channel sponsor.
21:31
We already talked about them. Thank you Pimbex.
21:33
OK, I really love the company and everything I get from them.
21:37
Gold price close. Today at $2390.90, up $33.66.
21:46
That's kind of a strange #3366, but hey, we'll take it, right?
21:50
The silver price on July 5th, 2024 closed at $31.21, up $0.80
22:00
per oz, just as all the basement dwellers and Ron's basement
22:03
predicted. And platinum of $24.57, north of
22:08
$1000. Per Oz OK, where was that?
22:11
Oh, yeah, here. Let's go.
22:14
US. Oh, and I got a this is I got a
22:16
crazy new website we're going to I'll show you next.
22:19
OK, this, but oh, no. Now I got to remember where it
22:25
is. Uh oh.
22:27
I'm, I'm, I'm going to look foolish here.
22:30
Where the heck was it? Somewhere Here it is.
22:32
It's in the middle. Hold on.
22:35
Somewhere in here. It can you find it?
22:37
Guys? Here we go.
22:39
Not US union workers. US.
22:43
Oh, boy. No, this is what I get for not
22:46
being prepared. Stay with me here anyway.
22:48
Oh here it is US workforce now 160 million.
22:53
This goes with what Silver Surfer just said.
22:55
Let's let's if you hover over it by my little yellow finger says
22:59
that's the total civilian non farm labor force employment.
23:04
There's 160 million people working in America guys. 5 oz 5
23:10
stinking ounces of silver is all.
23:14
It takes. OK.
23:16
If each one of those 161 million people bought 5 ounces of silver
23:21
over the course of a year, that would wipe out the entire
23:25
world's mining supply of silver for the year.
23:29
I mean that just shows that's that's a.
23:32
Critical component that we often talk about and we're gonna talk
23:37
about it again briefly right now, right?
23:39
Because I don't think you, I don't, I don't know that that if
23:43
you're like me, I struggle sometimes I forget these things.
23:47
The silver market is tiny. Itsy bitsy, teeny weeny, right?
23:51
We're $30 silver, right, a billion oz a year 'cause like
23:55
there's like 850 roughly million from mines and about another 150
24:00
million from recycling. Let's say about a billion oz,
24:03
$30 billion. That's a drop in the I mean,
24:06
that's, that's that, that that's so small you need a magnifying
24:11
glass to see it. If you're looking at the S&P 500
24:14
or you're looking at the market cap of NVIDIA, whatever the heck
24:18
that is. Artificial intelligence.
24:22
Well, artificial intelligence requires a lot of silver.
24:25
OK, Do you know right? Do you know, not only if every
24:28
US worker bought 5 ounces of silver that we'd wipe out all
24:31
the silver in the world, but do you know that those fancy
24:35
artificial intelligence web searches that I do all the time,
24:40
I'm telling you, you got to use ChatGPT.
24:42
It's incredible. You can ask it to do anything
24:46
you know anyway. A ChatGPT or an AI search uses
24:51
10 times the amount of energy in processing that.
24:56
It's like a Google, like a norm, Like we're all, we're all
24:58
getting old now, aren't? We How old are you, Buttercup?
25:03
I'm 54, I'm feeling it. All right, but I'm still down
25:06
here. I told you I'd do it every day,
25:08
'cause you're important. You're #1 Anyway, when I was
25:12
old, folks, and some of you are younger, some are older, but but
25:16
when we do you do one of those searches that it, it uses way
25:19
more, way, way more. I mean the idea.
25:22
The whole silver thing is just out of control, man.
25:26
We're having some fun. We.
25:27
Got 300 people out of the blue. Happy Friday?
25:30
Doesn't feel like Friday, does it since yesterday was the 4th
25:33
of July. Feels like like zombie day, but
25:36
that's OK, We'll take it because the silver price and the gold
25:40
price are doing really, really great.
25:43
Thank you for the Super chats. Thank you for giving this a
25:45
thumbs up. Remember, it's nice to do
25:47
something nice. Let's go.
25:49
I want to introduce you to a crazy website.
25:52
OK? Mike Mahari is how I somebody
25:55
pointed it out to him and I read an article he wrote about this
25:59
very interesting. It's called WTF.
26:04
You know what that stands for Basement dwellers happened in
26:07
1971, right? I was one year old, so I
26:13
remember what happened. Do you remember what happened
26:15
then We're going to, we'll talk about what, well, you know what
26:18
happened. But if you don't know what
26:20
happened in 1971, a lot changed. We'll leave it at that for now,
26:25
but later in this broadcast, I'll share with you, my basement
26:29
dwellers, what really happened in 1971.
26:32
But look at some of these charts.
26:34
Isn't this interesting Growth in productivity and hourly
26:38
compensation since 1948? The Red Arrows 1971, Wow,
26:44
productivity skyrocketed, right? Since what is that 3055 years
26:49
ago? 54 years.
26:51
Nonetheless, OK, productivity went up, but compensation
26:56
remained about the same. Compensation includes wages and
26:59
benefits, blah, blah, blah. So what happened in 1971?
27:03
Productivity went up. They worked people a lot harder.
27:06
They we got much more productivity out of the world,
27:09
but people's our money didn't go up.
27:11
I wonder I are you wondering what might have happened in
27:14
1971? Don't worry, I'll tell you in a
27:16
little bit. Here we go.
27:17
Real GDP, real wages and trade policies in the United States.
27:21
OK. Look at this.
27:23
Real GDP per capita. This is 1971.
27:26
Everything was about equal. Excuse me.
27:30
OK, Real GDP went up. All these things went up.
27:33
Average real wages. Yeah, a little bit, right.
27:36
Real median weekly earnings of full time workers based on CPI.
27:42
That's the red line. Did you do you see that Right?
27:46
GDP went through the roof, right?
27:48
All this stuff went up, but oh, the average median worker, they
27:54
just kind of remained flat at best, maybe even went down a
27:57
little bit. Isn't that interesting?
27:59
This is this. This really gets my income gains
28:04
widely shared in the early post war decades, but not since then.
28:09
Hold on a second, because as you can see by the red arrow, that
28:13
points to 1971. OK, this is the red down here is
28:18
the oh, oh, oh boy. I'm gonna be a big OK woof,
28:22
thought for a second I didn't have you guys on the screen with
28:24
me. The red is the top 1% of
28:30
earners. Look at this since 1971, that
28:33
top 1%, wow, their income went. Way, way up.
28:38
What about the bottom? Does it say 90%?
28:42
Yeah, 90% the blue line. Look at that.
28:45
Oh, well, that's OK, right? It's like a long term case of
28:51
Bidenomics. That was Obamanomics,
28:55
Bushenomics, Ronald Reaganomics, right?
28:59
You know? But what?
29:00
So what? Happened in 1971.
29:02
This is very fascinating. We'll just look at one more.
29:04
OK here. We'll go on to this one from
29:07
Fred. I think that's the Saint Louis
29:08
Fed, right? Relentless 50 year decline in
29:13
wages share of economy's total incomes, right so the wages in
29:20
1971 were about 52% of the total economy look how that's drop
29:25
drop, drop, drop, drop I mean it just goes on and on and on
29:30
there's. Chart after chart.
29:34
I mean, it's just, it's, it's crazy what happened.
29:37
So what happened in 1971? I'll tell you what happened in
29:40
1971, guys. You know what happened in 1971?
29:43
That's when. President Nixon took the United
29:47
States temporarily off the gold standard and what it's resulted
29:52
in, it makes me so angry because what it resulted in was the
29:57
fleecing. Of average Americans.
29:59
Your parents, My parents, right? Chances are you're not part of
30:03
that red line that was part of the 1%.
30:05
Chances are you're like me, right?
30:08
You're just average, everyday American.
30:11
That's the reality of the situation.
30:13
Guys, we are in for this epic battle.
30:17
I owe you a massive apology because I've been saying for the
30:21
last three or four weeks that the summer doldrums had set in.
30:26
And that's what the statistics have shown, right?
30:28
June and July. But I think I think that we very
30:32
likely could be in a position right now.
30:35
What do you think? Right, What do you think?
30:37
Let me ask you, OK, What do you think?
30:41
Where four weeks from today? Four weeks.
30:45
Today is the 5th, so that'll be 28th.
30:48
That'll be the 33rd of July. Well, that'll be like August 2nd
30:54
if my math is correct. Where do you think the silver
30:56
price will be? Do you think is by that point,
31:00
if we are indeed hitting this epic battle and I'll get back to
31:03
my apology, by that point we will be through if we get
31:06
through. I almost forgot the most
31:08
important part, right? If we if we win this battle for
31:13
$3233 silver in the coming weeks, OK.
31:17
And again, I don't want to be negative, but I'm going to give
31:20
it about a 33.8% chance. But if we do go up, right, First
31:26
we got to get up there like another dollar per oz and then
31:29
we're able to break free. And if in four weeks we are
31:32
sitting here and we are at, oh wow, look at these forty, $30.00
31:38
an ounce, $40.00 an ounce Alastair.
31:40
But if we're sitting at $3435 per oz, it could be a rocket
31:46
ship ride. OK, all OK.
31:48
To me, it just does it make sense to you why we can go from
31:52
34 to 44 lickety split, right? Does it make sense?
31:58
Because there's just no big selling pressure out there,
32:02
right? And it's not just us that
32:04
realizes this. It's the smartest, like
32:06
technical analyst, the people that understand how the markets
32:11
work, right? There's just not a lot of people
32:14
out there waiting for $38 silver to sell their silver.
32:18
Sure, there'll be some people selling the, the, the Chicken
32:21
Littles and we'll have some consolidation and backing.
32:24
What I mean, it's not going to go straight up, but the reality
32:28
is there are not. Millions of people who bought
32:31
silver when silver was at $40 because I got news for you
32:35
Eisenhower. Look at a chart right?
32:40
Silver was at 40 dollars $42.00 hardly any time at.
32:45
All over the last 50. Years, everybody talks about,
32:48
everybody talks about this. Right here.
32:50
Let's pull this up. There we go.
32:54
Right, right. Everybody talks about 1980.
32:57
Oh, silver hit $50.00 an ounce. Everybody talks about 2011,
33:02
silver hit $50.00 an ounce. Well, I'm going to show you
33:04
something. We're going to go on another
33:06
little trip here. Hold on, bear with me, stay with
33:11
me and let's go back here to Trading View and let's go to an
33:16
all time chart of silver if it'll do it for me.
33:22
Oh, there we go. OK, look guys, look, this is
33:26
1980. Look how Silver silver went,
33:30
right rocket ship and right back down.
33:34
So here's here's $40. OK, here's here's my example.
33:38
Stay with me here. You see where that yellow cross
33:41
is? Well, here I'll draw another
33:43
line. I know you love lines here.
33:46
This is fun. OK, let's go up to $40 silver
33:51
right about there. OK.
33:53
And let's draw a line across Okey dokey, Smokey.
33:59
Look, that was like one day or one week or whatever in 1980.
34:05
Do you think there's a lot of people sitting around saying I
34:08
bought silver for $42.00 an ounce back in November 1979 and
34:14
I'm going to sell it when it gets to $40 again?
34:16
Well, I got news for you anyway. If that guy existed, he would
34:19
have done it here in 2011. When silver again, just very
34:24
temporarily was about $40.00 an ounce.
34:27
OK, what? The point here is there's, these
34:31
are very brief periods of time where very few people bought
34:35
silver. Hey, while we're here, hold on a
34:38
second, we got more stuff to look at.
34:42
Here we go. Hold on, remove 4 drawings.
34:46
OK, let's do it. Well, here, I'll do it with this
34:50
while we're here since it's one of our favorite things to do.
34:54
Don't forget, boys and girls, follow that red line because
34:57
what is that? Forming a giant cup, OK.
35:02
And then what is this? Forming a handle?
35:04
OK, now, now that's the most powerful charting pattern in the
35:09
history of the world. If we get up into that $40 and
35:13
then the next, the next battle will be at $50.
35:17
OK. If this gets up to here at some
35:20
point and gets through there and remember triple tops are very
35:25
rare. Then it goes you can't see, but
35:28
my it goes up the silver go. That's when we get triple digit
35:31
silver. OK, now hold on here, get rid of
35:36
that. Let me show you one more thing
35:40
that thinks why is that not working close?
35:44
Hold on. There we go.
35:46
OK. Yeah, let's go to a five year
35:48
chart on silver. Now let's we'll do this one.
35:51
We'll do the all again over here in the handle.
35:55
Remember we showed earlier we broke out of the wedge.
35:57
If you look here and some people will dispute this, but to me
36:01
it's there and it's real. If you follow my finger, that's
36:04
an upside down head and shoulders pattern shoulder,
36:07
head, shoulder that we've also broken out of.
36:11
So man, I'm telling you that when it comes to silver and we
36:13
aren't, we aren't even really talked about gold.
36:16
Right. I mean, the gold.
36:17
The gold chart. Guys, let's go back here.
36:20
You want to feel good about something?
36:22
Let's take a look at this. OK, let's go to the gold price.
36:28
Hold on. Hey, there's a Home Depot ad.
36:36
You want to hear an interesting fact about silver?
36:38
Hold on one second. Let me fix my voice.
36:45
I have a very. Interesting fact for you about
36:47
silver that we'll investigate here in just one second.
36:49
Look at gold, $2400 per oz. Let's look at the gold chart on
36:55
Yahoo Finance now. There's a five year chart of
36:59
gold this. Was the triple top that we
37:01
talked about in gold, right? And how it relates right about
37:06
here, right. And here I can draw a line for
37:08
you. This, I think, will work.
37:14
Hold on. Yep.
37:18
OK. Yeah, Right here.
37:21
Right. Remember this, This is how
37:23
things work, $2000.00. So we'd hit it back in, what,
37:28
2020? And then we hit it again.
37:31
Roughly. What was that?
37:33
2022. And then in 2023, right?
37:39
And then finally we broke out of it.
37:41
This was probably that December, guys.
37:43
Remember just back in December with gold, I got the Christmas.
37:47
Tree right behind me. I can show it to you.
37:50
Proof, you know, hold on a second.
37:53
Hold on a second. I'm going to give you a little
37:54
different view of the basement and here we go OK, all right,
37:59
you're going to move. So hold on, right.
38:02
There you go. We're going over.
38:04
We're going over see the Christmas tree.
38:07
Alright, let me see if I can point that out.
38:09
See that sign right there that says $2100 gold?
38:17
OK, That's what we were hoping for for Christmas.
38:20
Now we're at 2400. So the gold chart, OK, it broke
38:24
out and then it came back and now as you know, we're off to
38:28
the races, I believe. Also, hold on here.
38:33
Escape OK, let's look at this yeah OK, let's look at that
38:39
quickly. I'm I'm I'm this is not a
38:40
charting show, but this is this relates to silver as well.
38:45
This is the long term gold chart.
38:48
OK, remember the cup and handle in silver right and how it
38:52
breaks out. Here's the long term, hold on a
38:57
minute, that's not showing long term cup.
39:01
And then we got the handle and this is wrong really.
39:04
Now the price is about right here, $2400.
39:08
So we can expect that in the silver price as well.
39:12
It's going to be super, I mean, unbelievable.
39:15
Interesting the massive news next week, right?
39:19
And it will be big. It will be big, big news will be
39:22
the inflation. But I'm telling you guys, I had
39:25
a little birdie told me one of the little birdies up here that
39:29
I'm curious what you think. But, but the, the inflation, I,
39:35
I predicted that the employment number would be, would be bad
39:39
this week. Now the employment number
39:41
technically was good. So I was wrong in that regard.
39:44
But really the unemployment rate went up and I said that I
39:47
thought that the price is silver and gold, that we could have a
39:49
big day today. Look, I am not sitting down here
39:51
bragging 'cause I am often wrong and I did not make any kind of
39:55
bet on that that I benefited from.
39:58
But none the less, I'm going to tell you with the same level of
40:01
confidence, my gut. OK, I'm curious how you feel
40:05
about it. But next week, the big.
40:06
News is going to be Thursday next week, the inflation number.
40:10
And if that inflation number comes in lower than expected,
40:14
they're going to be so happy, right?
40:17
It's what the market wants. It's what it's what we need five
40:21
months before an election when we don't really know who our
40:23
candidate is and we don't know if our candidate even knows if
40:26
he is a candidate. But I digress none the less.
40:30
It could be crazy town, right? It could be.
40:34
It could be the catalyst, I said.
40:36
I said right that that that what happened today with the
40:40
employment number could be the. Catalyst for an early summer
40:44
rally and I'm and I'm happy to say that that that I'm surprised
40:49
that we're having this early summer rally but guys.
40:53
We can't forget how screwed up things are right now.
40:57
I mean, absolutely screwed up. And as a result, things are
41:02
going to happen much more quickly now.
41:04
We could be in for some scary things happening in the next
41:07
four to five months. We've talked about that as well.
41:10
The first six months of the year was a nothing burger, an
41:13
absolute nothing burger from like a big event or big whatever
41:18
and with everything going on with the election and all that.
41:23
Don't rule anything out, right? Be safe, right?
41:27
Be mentally prepared, right? Be prepared, but also be
41:31
prepared for the fact that we could see a massive rally right
41:36
in the silver. Guys, I know you're sick of
41:38
hearing this. I know you're tired of me
41:40
telling you this, but it can happen.
41:43
It can happen, $100 silver can happen, right?
41:51
I mean, we talked earlier about how now, now you know, we're
41:55
it's bad, a fiscal and monetary situation as we were at the end
41:59
of World War Two when we first came out of the Great
42:02
Depression, right? We came out of the Great
42:05
Depression, we fought a World War, right?
42:07
And we were in a financial situation that was probably
42:11
better than where we are right now.
42:13
We're in a worse situation right now.
42:15
But whoa, whoa, whoa, wait, there's more.
42:18
But wait, there is more so important to remember, right,
42:23
That if you compare now that now what's happening to the 1970s?
42:28
Oh, remember the 70s, right, Right.
42:31
Remember the 70s. I'll tell you what happened in
42:33
the 1970s here. I got it.
42:35
Hold on, bear with me. I have these notes.
42:39
I got more notes, notes. He notes on here in the 1970s.
42:44
It's right here, right That pink In the 1970s, silver rose from
42:53
under $1.50 per. Oz in 1970 to nearly. 50.
43:00
Dollars per oz in 1980. Thus silver rose by more than 25
43:07
times, or more than 2400% during that period.
43:13
Every single Fiat money system ever created has gone bust.
43:19
Period end of story mic drop. Every single country that ever
43:25
got to a debt to GDP ratio like we are right now failed.
43:29
I don't like to say it. And maybe they got some more
43:32
Unicorn farts they can squeeze out and then make everybody
43:35
think everything's great. Oh, the dog market doing great
43:38
and my, my, my, my stock MY4O1K is doing great.
43:43
Well, that's. Great.
43:44
That's great. Do you have any?
43:46
Idea what you actually. Own.
43:48
Right. Ask somebody to answer.
43:50
They don't. They don't know.
43:52
It's like if you put a sheet of music in front of me, I can't
43:54
read it. It's a bunch of funny symbols.
43:57
I have a rough idea about the same level of rough idea that
44:01
most people have of what they own when they own stocks in the
44:03
stock market back to the 1970s. It can happen.
44:08
And I want you to think about this.
44:10
I want you to think about something very important, very
44:14
important. Remember though, that data I
44:16
just shared with you and gold went up similarish type amount,
44:19
gold went crazy during that period, OK.
44:22
But so I want you to, I want you to think about something right
44:25
now and that is that the situation that we are in right
44:30
now in this country, not because of you.
44:33
I'm not mad at you. I'm not all right.
44:35
I'm not mad at you. I don't like that press
44:37
secretary for the Biden administration and I don't like
44:40
Jerome Powell because he's really, Gomer Pyle is really
44:44
ripped off the average American. And it wasn't just him.
44:47
I don't completely blame him, but none the less, right, You
44:50
got to remember one key fundamental fact, right, that
44:54
the situation we're in right now when compared to the 1970s is
44:58
much more critical, much more extreme.
45:03
In the 1970s, we were still ruling the world.
45:08
OK, OK. There was no bricks.
45:11
There was no movement afoot in the world to move away from the
45:18
US dollar, right? We did.
45:20
We had some wars going on, but nothing like what's happening
45:23
now in the Middle East or in Europe, right?
45:27
Nothing. This situation that we're in
45:30
right now is different. It is different, right?
45:34
Things are different this time, and they're.
45:36
Worse, so we could see, right? I know, I understand, I know.
45:41
You have a hard time. People get mad at me.
45:43
I get hate mail, right? You keep talking.
45:46
About $100 silver. I hate buttercup.
45:49
I'll talk about 200. I'll talk about 500.
45:51
In theory, we could be talking about Infinity high silver, and
45:55
gold for that matter. The other difference?
46:00
Think about this. Think about this.
46:03
I want you to think the other difference between now and the
46:06
1970s. Guess what that the Chinese
46:10
people weren't buying like mobs and gobs of gold.
46:16
I mean, have you seen what is going on in Asia with gold,
46:20
right? And the same thing with silver.
46:22
I mean, they're they're using more wait till you see the data
46:25
I have tomorrow, more crazy data about solar and it's
46:30
unbelievable. But that I digress.
46:33
In the 1970s, we didn't have, we didn't, I'm sorry, we didn't, we
46:38
didn't have the Chinese and India buying the amount of gold
46:43
and silver. Yes, they've always loved gold
46:45
and silver. But guys, in 1970, no offense to
46:49
China and India, but they were like third world countries,
46:52
right? I mean, do you remember, I
46:54
remember in the mid 90s when China first started, like people
46:58
started recognizing that China was growing.
47:01
I mean that was the mid 90s. And even then it was like, yeah,
47:04
it's all a bunch of cheap. That's what people would say.
47:07
So much of cheap stuff that comes from China and it kind of
47:11
was, but that's different now. Now China and India are world
47:16
powers so that's different compared to the 70s.
47:20
I never even thought about that. Thank you for being here and
47:23
helping me learn something new. That's what US basement dwellers
47:26
do. Leave some comments in the
47:28
comments section. Show the pics boss.
47:33
Oh, you mean of China people buying gold?
47:35
Yeah. And we can we can look for, you
47:37
know, there's, you know, hold on.
47:39
OK for you, Jake. Anything.
47:41
Sorry, guys. It's hard for me to read the
47:42
comment. Oh, there it is.
47:44
Hold on. Bear with me.
47:47
There we go. OK.
47:49
Yeah. Look.
47:50
See over there? Oh.
47:54
My finger won't go on the screen over there.
47:57
That's 800,000. Chinese people.
48:00
That's not the Shanghai Gold Exchange.
48:04
That's a shopping mall. A shopping mall.
48:07
And what are they doing right? I, I, I look, I know 'cause I
48:11
know one of the people that's in that picture, that person right
48:16
there. See him.
48:18
See that guy? I can't zoom in.
48:20
But if you zoom in closely, that guy has a Ding Dong in his hand.
48:24
That's coin Shop Chris. We love our friend Coin Shop
48:29
Chris, right? He's over there.
48:31
Yeah. No, but seriously.
48:33
I would, I do want to say this quickly about Coin Shop Chris
48:35
has his own channel, Coin Shop Chris on YouTube.
48:39
We're trying to get him to 1000 subscribers.
48:41
He deserves it. He's like the nicest, most
48:44
honest good guy. And if there's anybody who loves
48:47
silver and gold, it's Coin Shop Chris.
48:49
So please. Go check out his channel and
48:51
subscribe. OK?
48:52
Yeah, but those are the Chinese people.
48:53
That's not the Shanghai Gold Exchange.
48:56
That's a Shanghai shopping mall or a Chinese shopping mall.
49:00
Does that does that compute? Not to mention, right, we know
49:05
what's going on in the Shanghai Gold Exchange.
49:08
It's in. It's crazy.
49:09
It's absolute crazy time. Thank you for being here, guys.
49:12
Thank you, everybody. I thought Chris carried a
49:15
Barbie. Yeah.
49:15
We used to joke around, say coin shop.
49:17
Chris loves Barbies. You got mad.
49:19
I didn't get mad at me for that. We haven't talked about that for
49:21
a while. We'll we'll resurrect that.
49:23
OK. You guys have a great night.
49:26
OK. I should be back tomorrow.
49:29
Thank you for being here. OK.
49:31
And I'll see you soon.